Arsenal prepared to allow Theo Walcott to leave in January

Arsenal are reportedly willing to let Theo Walcott go either in the January transfer window or at the end of the season, with the forward no longer in Arsene Wenger's plans.

The 28-year-old has fallen down the pecking order at the Emirates and has featured only 10 times across all competitions so far this season, playing a meagre 46 minutes of Premier League football. The forward was not included in the squad for the Gunners' last four league games and, according to the Sun, Wenger will allow him to leave north London if a suitable offer is received.

Southampton, Walcott's former club, and West Ham are understood to be interested in signing the London-born winger, who won the last of his 47 England caps in November 2016 in a friendly against Spain.

In October, Everton were also said to be keen on signing the 28-year-old, whose England career could be revived by a move away.

Walcott, who has scored 65 goals in 267 Premier League appearances for the Gunners and won three FA Cups during his 10-year spell at the Emirates, has 18 months left on his contract but looks unlikely to commit to a new deal and Arsenal are desperate to avoid a repeat of the scenario that has unfolded with Alexis Sanchez and Mesut Ozil.

The former has turned down Arsenal's offer of a new contract and will leave in the summer, with Paris Saint-Germain and Manchester City among the favourites to land him. The latter, meanwhile, was offered a new deal back in February, only for negotiations to be quickly put on hold amid the uncertainty surrounding Wenger's future.

The Frenchman eventually penned a two-year extension to remain in north London but negotiations over Ozil's contract have not yet resumed and the 2014 World Cup winner could follow Sanchez's example and walk away for nothing at the end of the season.

However, finding suitors could be problematic for Arsenal, given Walcott's £110,000-a-week salary makes him one of the Gunners' highest paid players. Signed from Southampton for £12m as a 16-year-old, Walcott arrived with the tag of being arguably one of English football's brightest talents but a series of injuries and indifferent performances hampered his development.

Meanwhile, Mathieu Debuchy, Carl Jenkinson and Calum Chambers could also all be sold or loaned out in January as Wenger looks to raise funds by offloading a number of fringe players.